SPV (Special Purpose Vehicle)

An SPV is a standalone legal entity created to make a single investment, pooling capital from multiple backers for one deal. In venture, SPVs are how syndicate leads share access, how GPs offer LPs co-investment in a breakout company, and how solo capitalists stretch beyond their fund's check size. Investors see exactly what they are buying, unlike a blind-pool fund, and the organizer typically charges carry on that deal alone.